Evmorfea Savidis Acquires Retail Property In Houston, TX For $2.8M

Evmorfea Savidis of Morsav Inc., represented the buyer in the sale of a retail property located at 1320 E. NASA Pkwy in Houston, TX. The transaction closed on 08/16/2022.

Summary of transation details

• Property Type: Retail
• Sale Price: $2,800,000
• Square Footage: 4,952
• Price per Square Foot: $565
• Cap Rate: 3.4%
• Address: 1320 E. NASA Pkwy, Houston, TX
• Market: Houston, TX

This property is a McDonald's with a corporate guarantee, offering an absolute NNN lease. It presents a unique opportunity, being conveniently located across the street from the Nasa Headquarters. Evmorfea Maria Savidis, Principal Broker at Morsav, Inc., assisted one of her best clients in finding this property as an exchange property for their 1031. The buyer had previously sold a property in Bay Ridge before acquiring this McDonald's in Texas.

The deal closed at $2,800,000 with a 3.4% CAP, demonstrating the favorable terms negotiated by Evmorfea Savidis. For further information or to explore similar opportunities, interested parties can contact Maria at [email protected].